Employee Rewards: who would you rather work for – Amazon or Apple? (2024)

FAQs

What kind of rewards employees prefer the most? ›

Employees at Apple get discounts on products for them and their families, while they also get discounted stock purchase options. The product or service you offer should be offered at a discounted rate where possible to the employees who work hard on making it a success.

The top three incentives are cash, gifts and experiences. Some examples of gifts are electronics, ride-share credit and gift cards. Experiences include perks like tickets to concerts, festivals and sporting events. Your rewards must excite employees.

Health and Wellness

Apple employees enjoy excellent health insurance, with both dental and vision coverage.

Apple offers RRSP matching, 401k plans, and different kinds of income protection. Depending on your seniority, they match up to the first six percent of your base pay in a 401k plan. They have an Employee Stock Purchase Program to secure your future finances, and you might also qualify for stock grants.

Apple Card gives you unlimited 3% Daily Cash back on everything you buy at Apple — whether it's a new Mac, an iPhone case, games from the App Store, or even a service like Apple Music or Apple TV+.

What are 5 examples of rewards you give to team members for their effort contributions and or achievements? ›

Intrinsic versus Extrinsic Rewards

Some examples are- an impressive job title, career growth, personal achievements, praises, etc. Extrinsic rewards are tangible rewards that employees receive upon doing good work. It includes bonuses, raises, gifts, etc. Intrinsic rewards make employees feel valued in a company.

There are two types of rewards—tangible and intangible. Tangible rewards are money, vacations, and material objects. The best way to use money as a reward is to give a specific amount as a bonus directly related to the performance of a task or the achievement of a goal.

Most Desirable Benefits According to Employees

If you want your benefits package to remain competitive, you'll want to offer health insurance, some disability and life insurance, and probably a retirement plan, such as a 401(k).

The biggest perk of working at Apple, at least based on the number of reviews that mentioned it, is a feeling that your work really matters and has an impact on the world. We saw this point made in dozens of reviews from current and former Apple employees from departments throughout the company.

13, and Apple at No. 14 — but were not included in the list of 50 companies for 2022. It's not the first ranking the tech giants have fallen in this year, either: Meta and Apple both dropped more than 20 spots on Glassdoor's annual ranking of the best places to work in the U.S., from No. 11 to No.

He shared four qualities that Apple looks for in a candidate - Collaboration, creativity, curiosity and expertise. “We have a group of people in the company that really want to change the world, that want to enrich people's lives, that want to leave the world better than they found it,” he said, as quoted by Fortune.

Does Apple treat their employees well? ›

But despite the long hours of hard work, many Apple employees seem to think the pros outweigh the cons. Based on hundreds of reviews on Glassdoor and a few Quora posts written by former employees, it sounds like Apple treats its employees extremely well. Here's a look at why people love working at Apple.

4. Apple employees get $500 store credit every 2 years. On top of the 25% off all the time employee discount, Apple employees also get a $500 store credit every two years. You can use this credit on anything you want — there are no product restrictions.

Apple Signing Bonus

Many Apple offer letters don't include a signing bonus by default. It's a common recruiter trick to leave it out of the initial job offer. For most technical roles at Apple, it is possible to negotiate a higher signing bonus even if it's not in your initial offer.

To maximize your rewards, make sure to use Apple Pay for as many purchases as possible. That way, you'll automatically earn 2 percent cash back on most purchases. Make sure you also use your Apple Card with Apple Pay at eligible merchants so you earn 3 percent cash back.

As he describes them: "Autonomy: the urge to direct our own lives. Mastery: the desire to get better and better at something that matters. Purpose: the yearning to do what we do in the service of something larger than ourselves."

Personal recognition strengthens the bond between the recognizer and employee being recognized. An Aon Hewitt survey of millennials found that they are most satisfied when recognized with thank you notes and verbal thank-yous. The best part? Personalized recognition is easy to achieve.

Rewarding and recognizing employees leads to greater employee engagement, which increases retention and helps create a more positive overall workplace. Incorporating a rewards and recognition program helps increase employee engagement, leading to many benefits for the company, like increased productivity and retention.

Reward systems that include a combination of cash and non-monetary rewards as well as social awards (e.g. recognition and praise) have the greatest impact on employee performance. Pay cash bonuses in a lump sum to maximize their effect as money only motivates when it is a significant amount.

There are two general types of rewards that motivate people: intrinsic and extrinsic. Intrinsic motivation is internal to the person and is driven by personal interest or enjoyment in the work itself. Because intrinsic motivation exists within the individual, achieving it does not depend on others.

Why do rewards motivate employees? ›

Employee rewards work

When employees are rewarded, they feel like they trust their employer and feel supported — and that's powerful. Building trust between employees and employers is critical in well-being and engagement programs, and in the workplace as a whole.

What is the most commonly used reward in organizations? Money because it can help needs get met.

Rewards acts as motivator for employees. The three important factors are: Compensation: Compensation is the most important and tangible mean of reward. It includes salary, bonus, benefit packages, perquisites, insurance, pension plan, stock-options and grants, deferred income, and so forth.

This not only highlights the importance of employee recognition, but it also outlines one of our basic needs as an employee and human beings. Appreciation is certainly an essential human need that should never be discounted, as employees will respond positively to any sort of appreciation that comes their way.

What is employee reward and recognition? ›

Reward and recognition in the workplace is a system where people are acknowledged for their engagement in intrinsic or extrinsic ways. Recognition and reward are present in a work environment where there are appropriate acknowledgement and appreciation of employees' efforts in a fair and timely manner.